November EC Meeting 2019

GFTU Management Accounts YTD Aug 2019

GFTU Budget Full Year 2019

Budget YTD Aug 19

Actual YTD Aug 19

Variance YTD Aug 19

Budget left to spend / achieve for the year

Notes

Income source Accounts Processing Services

POA & TSSA

120,500

80,333 43,200

70,573 43,200

(9,761)

49,927 21,600

7 months at £5,400

Recharge for services provided- QGH Recharge for services provided- QGN

64,800

- -

-

-

-

Only CCISUA left to come at £2.5k

Contributions

194,500

194,500

178,608

(15,892)

15,892

Sponsorship/Commission

- -

- -

- -

- -

Investment Income -TU Unit Trusts Investment Income- Zeneca Investment Income- RBS Investment Income- Unity Trust

Dividends received from Astra Zeneca shares

8,000

5,333

2,936

(2,397)

5,064

- -

- -

- -

- -

Managed Investment Income BM & CAM

40,000

26,667

(26,667)

40,000

Bank Interest Received

-

-

-

-

Misc Income- intercompany recharge

- - - - - - -

- - - - - - -

- - - - - - -

- - - - - - -

Gift Aid-GFTU Gift Aid- Albion Gift Aid-QGH

Customised Course Fees

Union Conference Building/ BGCM Grant/Arts Festival/Spon'ship/Project

BGCM Event Income - delegates attendance and sponsorship

Other Income

12,000

8,000

18,158

10,158

(6,158)

Extra Ordinary Income

-

-

Total income

439,800

358,033

313,475

(44,559)

126,325

Expenditure Staffing Salary And NIC

157,987

105,325

63,658

(41,667)

94,329

Salary for shared Service

-

-

-

-

Pension

13,010

8,673

6,498

(2,175)

6,512

Redundancy & Severance

-

-

-

-

Staff Welfare

860

573

288

(285)

572

7 months at £375

Essential Car user Allowance

1,500 2,000

1,000 1,333

3,000 2,926

2,000 1,592

(1,500)

Staff Travel and Subs

(926)

Staff Travel shared Service

-

-

-

-

GS Travel HOE Travel

1,500

1,000

488

(512)

1,012

-

- - -

-

-

Other employment costs Training and development Casual / Agency Workers Pensions Recovery Payments

800

533

(533)

800

- -

-

-

Andrew Pearson & Wendy Ledger

21,543 46,667

21,543

(21,543)

Quarter 1 & 2 repayments made (£70k due in year)

70,000

46,667

(0)

23,333

Pension Scheme Cost

- -

- -

- -

- -

Pension prior year adjustment

Total

247,657

165,105

145,067

(20,038)

102,590

Premises Rent and Rates

300 250

200 167

- -

(200) (167)

300 250

Repair and maintenance

Accrual for Gas + Elec since Sept 18 (Lodge demolished). Expecting recharge from QGH as site now on same meter as Hotel

Utilities

800

533

2,321

1,787

(1,521)

Health and Safety

-

580

580

(580)

Circle Insurance

Insurance

500

333

2,157 7,636

1,824 2,636

(1,657)

Depreciation

7,500

5,000

(136)

Cleaning

-

-

-

-

Total

9,350

6,233

12,694

6,461

(3,344)

Administration Stationery, Postage Courier & delivery cost Telephone & mobile IT, website, maintainence

1,600

1,067

322

(745)

1,278

-

-

-

700

467

599

132

101

Sage Payroll licence

2,500 2,000

1,667 1,333

2,985 4,145

1,319 2,811

(485)

Printing & Copying Office relocation

(2,145)

- -

- -

- -

Total

6,800

4,533

8,050

3,517

(1,250)

Management fees Executive Committee Expenses

2,000

1,333

6,496

5,162

(4,496)

Holiday Inn Wembley, House of Commons, Photographer and Transcript

Conference expenses (BGCM/EC)

12,750

12,750

46,725

33,975

(33,975)

Conference expenses (other)/Speakers

3,000 8,500 1,000

3,000 5,667

7,563 3,444

4,563

(4,563)

Accountancy and audit

(2,223)

5,056 1,000

GFTU Audit Fee Accrual

Legal & Professional

667

-

(667)

Prior Year Adjustment

-

- -

-

-

Investment management fee

20,000

13,333

(13,333)

20,000

Pension scheme levy

28,000

18,667

-

(18,667)

28,000

Pension Scheme Audit Fee Accrual

Pension scheme audit and accounts

5,000

3,333

1,600

(1,733)

3,400

Mercer fees for GFTU Pension Scheme audit report & Walker Solicitors fees

Pension scheme legal & professional

35,000

23,333

19,023

(4,310)

15,977

Total

115,250

82,083

84,851

2,768

30,399